The Yen goes for a steady run

By reviewing the action last Friday, the British Pound emerged as the strongest currency. Interestingly, the bulk of the gains occurred in the pre-London session. Once the London boys came online, the currency ended up treading water and its performance. The currency, most suppressed out of the G8 forex indices, included the US Dollar and portrayed a steady downward stepping dynamic. This bearish inertia picked up momentum from the instant Frankfurt flows kicked in, all the way to the final minutes in New York. When it came to the Canadian Dollar, while the net daily effect was marginally less negative than in the US … (full story)

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